Equities analysts forecast that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will post $24.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Portola Pharmaceuticals’ earnings, with the highest sales estimate coming in at $25.63 million and the lowest estimate coming in at $22.94 million. Portola Pharmaceuticals reported sales of $4.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 505.7%. The business is expected to issue its next quarterly earnings results on Thursday, August 8th.
On average, analysts expect that Portola Pharmaceuticals will report full year sales of $116.72 million for the current fiscal year, with estimates ranging from $103.45 million to $134.77 million. For the next year, analysts anticipate that the business will report sales of $246.96 million, with estimates ranging from $181.11 million to $326.87 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($1.02). Portola Pharmaceuticals had a negative net margin of 618.46% and a negative return on equity of 238.48%. The business had revenue of $22.17 million for the quarter, compared to the consensus estimate of $20.60 million. During the same period last year, the firm earned ($1.28) earnings per share. The company’s quarterly revenue was up 233.9% on a year-over-year basis.
Several research analysts have weighed in on PTLA shares. Oppenheimer set a $42.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, April 12th. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Credit Suisse Group started coverage on shares of LTC Properties in a research report on Wednesday. They issued an “underperform” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $42.29.
In other news, Director Hollings Renton sold 5,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $34.45, for a total value of $172,250.00. Following the completion of the sale, the director now directly owns 14,000 shares of the company’s stock, valued at $482,300. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $895,000. Wisconsin Capital Management LLC lifted its stake in Portola Pharmaceuticals by 13.1% during the 1st quarter. Wisconsin Capital Management LLC now owns 77,549 shares of the biopharmaceutical company’s stock valued at $2,691,000 after acquiring an additional 9,000 shares during the period. Atika Capital Management LLC lifted its stake in Portola Pharmaceuticals by 233.3% during the 1st quarter. Atika Capital Management LLC now owns 100,000 shares of the biopharmaceutical company’s stock valued at $3,469,000 after acquiring an additional 70,000 shares during the period. William Blair Investment Management LLC lifted its stake in Portola Pharmaceuticals by 41.7% during the 1st quarter. William Blair Investment Management LLC now owns 4,154,870 shares of the biopharmaceutical company’s stock valued at $144,174,000 after acquiring an additional 1,222,057 shares during the period. Finally, Elk Creek Partners LLC lifted its stake in Portola Pharmaceuticals by 6.5% during the 1st quarter. Elk Creek Partners LLC now owns 402,267 shares of the biopharmaceutical company’s stock valued at $13,959,000 after acquiring an additional 24,462 shares during the period.
PTLA traded down $0.60 during trading on Thursday, hitting $26.15. The company’s stock had a trading volume of 59,330 shares, compared to its average volume of 1,254,197. The company has a debt-to-equity ratio of 5.15, a quick ratio of 4.77 and a current ratio of 4.81. Portola Pharmaceuticals has a one year low of $14.81 and a one year high of $42.17. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -5.23 and a beta of 2.23. The stock has a 50 day moving average price of $27.37.
About Portola Pharmaceuticals
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients hospitalized for an acute medical illness.
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